Treasury acknowledges faith-based performance test a ‘case-study’

Mike Taylor

Managing Editor/Publisher, Financial Newswire

20 October 2022

The Federal Treasury has confirmed that the current review of the Your Future, Your Super superannuation performance test could see the supplementary test regime extended beyond faith-based products to values-based products.

Appearing before the Senate Economics Legislation committee, a senior Treasury executive, Luke Spear said the legislation allowing a supplementary test for faith-based products did represent a case-study for possibly extending the arrangement to values-based products.

Answering a question from NSW Labor Senator, O’Neill Spear said he did not want to over-state the degree to which the faith-based products approach could be extended to values-based products.

“However, this is a solid case-study from which other changes to the performance test may benefit,”

“That is something we’re looking at at the moment in the YFYS Review within which we are looking at the performance test and different options and this will certainly help as a case-study for further advice and recommendations to Government,” he said.